Most Asian stocks fell on Friday but Chinese shares extended gains on AI optimism despite U.S. tariffs, while the Reserve Bank of India (NSE:BOI) reduced interest rates for the first time in nearly five years.
Most Asian currencies moved little on Friday, while the dollar steadied ahead of more cues on U.S. interest rates and the economy from key nonfarm payrolls data due later in the day.
Oil prices rose marginally in Asian trade on Friday but were on track for a third straight week of decline, hurt by U.S. President Donald Trump's renewed trade war on China and threats of tariff hikes on other countries.
The yen climbed to a nine-week high on Friday as market players piled on bets for more interest rate hikes in Japan this year, while the U.S. dollar and other major currencies were little changed ahead of U.S. payroll figures later in the day.
The Chinese commerce ministry said on Thursday U.S. tariffs were "vile", "unilateralist" and exacerbated global trade tensions, after President Donald Trump threatened to heap import duties on major U.S. trading partners.
Oil prices edged up in Asian trading on Thursday after Saudi Arabia's state oil company sharply raised March oil prices, but the increase was barely a blip on the biggest slide in benchmark Brent prices in nearly three months the previous day.